Arkansas § 11-10-1004 - Authorization — Purposes.
Full text of Arkansas Arkansas Code of 1987 Annotated § 11-10-1004 — Authorization — Purposes., with citation guidance and answers to common questions.
§ 11-10-1004. Authorization — Purposes.
The Arkansas Development Finance Authority is authorized, subject to the approval of the voters in a statewide election, to issue bonds to be known as the Arkansas Unemployment Trust Fund Bonds in an aggregate principal amount not to exceed five hundred million dollars ($500,000,000). The purpose of the bond issuance shall be to: Repay the principal of and interest on advances from the federal trust fund under Title XII of the Social Security Act, 42 U.S.C. § 1321; Pay the costs of issuance of the bonds including without limitation the costs of bond insurance or other credit enhancement; Pay unemployment benefits by depositing bond proceeds into the Unemployment Compensation Fund; Provide a debt service reserve; and Pay capitalized interest on the bonds for a period not to exceed two (2) years.
Frequently Asked Questions About Arkansas § 11-10-1004
What does Arkansas Code of 1987 Annotated § 11-10-1004 cover?
Section 11-10-1004 ("Authorization — Purposes.") is part of the Arkansas Code of 1987 Annotated, the codified statutory law of Arkansas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Arkansas § 11-10-1004?
A common citation format is "Arkansas Code of 1987 Annotated § 11-10-1004" (Arkansas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Arkansas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Arkansas official source linked on this page or consult a licensed Arkansas attorney.
How does Arkansas § 11-10-1004 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Arkansas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Arkansas.